 When you think of the Federal Reserve, you probably think of Janet Yellen, but can you name anyone else at the central bank? The Fed is made up of three parts, the Board of Governors, the Federal Open Market Committee, and Federal Reserve Banks. The leadership of these entities are not exactly separate, in fact, there's plenty of overlap. So, let's start with the Board of Governors. There are seven governors, each with a 14-year term. They are nominated by the President of the United States. Think of this group as the guardian of the Fed. They make sure everything runs smoothly. They also keep an eye on the regional banks. So, who's on the Board of Governors? Well, obviously we have Janet Yellen. She has a vice chairman, Stanley Fisher, and during the financial crisis, he ran Israel's central bank. He's a rather visible member of the Fed, you'll sometimes see Fisher make speeches about the economy and give media interviews. His term expires next year. Then there's Jerome Powell. He makes sure the big banks like JPMorgan Chase and Bank of America follow all the rules. Think of him as the banking sheriff. There's also Lail Brainard. Brainard was also reportedly Hillary Clinton's choice for Treasury Secretary if she had won the election. The remaining three positions are vacant. That'll be up to President Trump to fill these spots. By the way, Janet Yellen's term as chair expires next year. All these board members also sit on the FOMC. That's the Federal Open Market Committee that I mentioned earlier. The FOMC also has five presidents of the regional banks for a total of 12 people. The FOMC is making policy decisions that affect every consumer and investor out there, like deciding when to raise or lower interest rates. The FOMC meets eight times annually and includes some familiar names that I just mentioned, Yellen, Powell, Brainard and Fisher. But there's also William Dudley. Let me introduce you to him. He's the president of the Federal Reserve Bank of New York and former chief economist at Goldman Sachs. And there's also Charles Evans, who runs the Federal Reserve Bank of Chicago along with the presidents of the Federal Reserve Banks of Philadelphia, Dallas and Minneapolis. But wait, there are actually 12 Federal Reserve Bank presidents across the country, the five we just mentioned, New York, Chicago, Philadelphia, Dallas and Minneapolis, plus these others. We've got Boston, Cleveland, Atlanta, Richmond, St. Louis, San Francisco and Kansas City. I mentioned at the top that there is plenty of overlap within the Fed and you can definitely see it with the FOMC members and the banks. But think of the regional banks as the Fed's local enforcers. You may have heard the Fed's beige book, that's a compilation of how regional economies in the U.S. are doing, and that gets released eight times a year. The Fed banks work on this. So the Fed is much bigger than Janet Yellen and it goes way beyond Washington, D.C. Now you know.